Price for Watch Movements; Complete and Assembled in Ecuador - 2022

Price for Watch Movements; Complete and Assembled in Ecuador (CIF) - 2022

In 2022, the average import price for watch movements; complete and assembleds amounted to $3.6 per unit, shrinking by -36.8% against the previous year. Overall, the import price recorded a deep downturn. The pace of growth was the most pronounced in 2021 when the average import price increased by 96% against the previous year. The import price peaked at $19 per unit in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($9.5 per unit), while the price for Japan ($1.7 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+1.0%), while the prices for the other major suppliers experienced a decline.

Price for Watch Movements; Complete and Assembled in Ecuador (FOB) - 2022

The average export price for watch movements; complete and assembleds stood at $332 per unit in 2022, falling by -11.5% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the average export price increased by 160%. The export price peaked at $375 per unit in 2021, and then reduced in the following year.

As there is only one major export destination, the average price level is determined by prices for Switzerland.

From 2012 to 2022, the rate of growth in terms of prices for Switzerland amounted to +0.1% per year.

Imports of Watch Movements; Complete and Assembled in Ecuador

In 2022, overseas purchases of watch movements; complete and assembleds increased by 71% to 9K units for the first time since 2019, thus ending a two-year declining trend. In general, imports, however, saw a drastic downturn. Over the period under review, imports reached the maximum at 12K units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, watch movements; complete and assembled imports totaled $32K in 2022. Over the period under review, imports, however, faced a deep reduction. Imports peaked at $57K in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Import of Watch Movements; Complete and Assembled in Ecuador (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Japan	23.4	24.3	14.1	10.3	-23.9%
Hong Kong SAR	26.6	1.7	1.9	8.0	-33.0%
China	0.9	1.5	2.9	3.2	52.6%
Others	6.3	7.3	11.2	10.9	20.0%
Total	57.1	34.8	30.0	32.4	-17.2%

Top Suppliers of Watch Movements; Complete and Assembled to Ecuador in 2022:

Japan (6.1K units)
Hong Kong SAR (2.3K units)
China (0.3K units)

Exports of Watch Movements; Complete and Assembled in Ecuador

In 2022, watch movements; complete and assembled exports from Ecuador stood at 1 units, leveling off at 2021 figures. In general, exports recorded a relatively flat trend pattern. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, watch movements; complete and assembled exports fell to $332 in 2022. Overall, total exports indicated a buoyant increase from 2019 to 2022: its value increased at an average annual rate of +14.4% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +49.5% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 30% against the previous year. As a result, the exports attained the peak of $375, and then shrank in the following year.